GE is building local and going global
Oklahoma Independent Petroleum Association President Mike Terry said General Electric's decision to build a global energy research center in Oklahoma City bodes well for the industry in the state.
“Oklahoma is the No. 1 place in the world for oil and natural gas industry investment, and this is another example of that,” he said. “The exploration and production of oil and natural gas is the driving force behind Oklahoma's economy, and the benefits of the state's oil and gas renaissance will be felt for years.
“With exploration and drilling across the state, Oklahoma's crude oil production is at its highest level since 1993. That increased production increases the need for companies that serve the industry, like GE.
“I think this is only the first of many similar announcements to come.”
GE CEO Jeff Immelt said Oklahoma should benefit from the company's global reach.
“We are here in Oklahoma City, but our market is every place but here. We want to sell to Chesapeake and Devon and guys like that, don't get me wrong, but we are in every corner of the world,” he said.
From Staff Reports